Rahul Sharma, former actor Asin’s husband and the co-founder of Micromax, once led India’s prominent mobile brand, but struggled as competition from Chinese brands overtook the market. Despite the rise and fall of Micromax, Rahul’s entrepreneurial journey didn’t end there. In a recent interview, he revealed that his current venture is generating more revenue than ever before, though many remain unaware of his success.
Reflecting on his days in the mobile industry, Rahul shared how quickly Micromax rose to prominence before being overtaken by its competitors. He also expressed regret about turning down a ₹6,500 crore funding offer in 2014, which could have helped the company cope with the increasing competition. According to Rahul, Micromax’s downfall was sealed by the pandemic, which devastated Indian brands that once held 50% of the market share.
In the interview, Rahul explained how his focus on technology helped him move forward after Micromax’s decline. He stated, “Today, our revenue is way bigger than what we used to do in our brand. Most people would probably not know. But we are doing way better than we used to do earlier.” Rahul also mentioned that his new venture involved manufacturing for other companies, leveraging the factories built for Micromax. The business now operates with four factories and is about to open a fifth.
Rahul noted that his approach to business has changed, admitting that his appetite for risk has decreased. He emphasized sticking to the basics, especially in times of uncertainty.
Recalling the 2014 funding offer from Meizu, backed by Alibaba, Rahul mentioned that the company was raising $800 million at the time. Despite the opportunity, Rahul declined the funding, confident that Micromax was doing well and didn’t need external investment.
After marrying Asin in 2016, Rahul’s company, Bhagwati Products Ltd (BPL), secured vital foreign investment, boosting its revenue by tenfold. Today, BPL’s turnover stands at ₹6,200 crore, marking a significant success in Rahul’s ongoing entrepreneurial journey.
